Not everyone is buying into the Great Video Pivot of 2017. Spotify is rethinking its recent investments in original video programming, even as its biggest competitor gets ready to ramp up its own video efforts. Video and podcasts head Tom Calderone just left Spotify, according to Bloomberg. The company is reportedly looking to shift away from original video (and apparently shows like Traffic Jam, a video series in which producers and artists compose songs in L.A. traffic) and focus more intently on music content.
The change comes just as Apple is reportedly prepping a $1 billion investment in original video and eyeing a new Culver City space to produce high-quality shows that could rival content from the likes of HBO and Netflix. Without Apple’s deep pockets–and the looming pressure of going public–Spotify can’t quite afford to make a play like that.JPT